This week we have been discussing how lost wages and lost income are calculated in wrongful death cases – and how complex these calculations can be. One of the factors that many families do not consider, when their loved one’s financial contributions have disappeared, is important fringe benefits. These benefits can add up to thousands and even tens-of-thousands of dollars a year.

What are fringe benefits?

Fringe benefits, also known as employment benefits, are any types of compensation that come along with your salary or wages. Fringe benefits can include:

Health insurance

Dental insurance

Retirement benefits (such as a 401K plan)

Disability benefits

Life insurance

Paid sick days

Paid vacation days and holidays

Bonuses

Paid housing

Student loan repayment

Pension contributions

Childcare assistance

Use of company car or other transportation costs

As you can see, calculating lost wages is more difficult than simply taking a person’s salary and multiplying it over the years they would have been compensated. Fringe benefits can add up quickly, especially if your loved one died many years before their expected retirement. While these benefits are not always used to calculate lost income, the loss of these employment benefits can be an enormous challenge to families after the death of their loved one.

Would you like to better understand your options for legal action after the loss of your loved one? Do you believe that your loved one’s death was due to negligence and should have been prevented? Speak with Washington wrongful death attorney Andrew Kim today by calling toll-free, 888.636.3676.